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20121129
20121207
Search Results 0 to 8 of about 9 (some duplicates have been removed)
. >> pretty definite. all right, ron. >> thank you, ron. >>> we'll turn now to if fiscal cliff, 30 days from an economy-crippling deadline. yet talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. >> last weekend, you sat right here and you said you were reasonably optimistic that a deal could be afoot. in the intervening week, lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these negotiations. treasury secretary geithner when he went up to capitol hill, mitch mcconnell laughed when they got the offer from geithner. house speaker boehner said that the talks are at a stalemate. democrats said they're not going to make another move until republicans say they're going to go for an increase in tax rates. so, this is stalemate right now. now, these things always look horrible when they come together. more and more voices say, this is going to go over the fiscal cliff at least for a few days in january. >> if we go over the fiscal cliff, voters will likely blame the
'll turn now to the fiscal cliff, 30 days from an economy-crippling deadline. where everyone's taxes go up and massive spending cuts kick in. yet, talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. george is with us now. good morning, george. >> last weekend, you sat right here and you said that you were reasonably optimistic that a deal could be afoot. in the intervening week, we have seen a lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these negotiations. treasury secretary geithner when he went up to capitol hill, on thursday, the senate republican leader mitch mcconnell laughed when he got the offer from tim geithner. they think it's an offer that doesn't show any rules towards compromise. house speaker john boehner said that the talks are at a stalemate. there seems to be a huge divide. democrats said they're not going to make another move until republicans clearly say they're going to go for an increase in tax rates. republicans aren't prepared to m
heads back to work this morning as the clock is ticking down toward the impending fiscal cliff. talks, though, seem to be at a stalemate. yesterday with just 29 days until tax hikes and deep spending cuts kick in. both republicans and the democrats were running to the airwaves to try to explain their positions. here's what they said. >> what we're not going to do is extend those tax cuts with the wealthiest americans. those cost a trillion dollars over ten years and there's no possibility that we're going to find a way to get our fiscal house in order without those tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> the administration has presented a plan that calls for $1.6 trillion in new tax revenues. $400 billion in cuts to medicare and other entitlements. $50 billion for a new stimulus and congress would have to give up control over raising the debt limit. re
with brooking news on the looming fiscal cliff. for the past few nights we've been telling you about the frustrating lack of progress to avert a deal on automatic tax hikes and spending cuts that kick in less than four weeks from now. poll after poll shows the american people want compromise but there weren't many signs that was going to happen, nothing was getting done. in a cnn/crc poll, 67% said washington officials would behave like spoiled children in the fiscal cliff discussions. only 28% said they would behave like adults. tonight signs that maybe some adult behavior might be prevail and a compromise might be reached. jessica yellen joins us, dana bash and david gergen. what's the latest? >> reporter: they are a long way from a deal, but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no real progress in negotiations. in this sense there was no breakthrough on that central point of tax rates.
before that so- called fiscal cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congress find a gentler way to solve the crisis in the federal budget. here's how treasury secretary tim geithner put it on cnbc. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember, it's only 2%. >> pelley: by top 2%, he means individuals making more than $200,000 and couples taking in $250,000 or more. republicans say rates shouldn't be increased on anyone. with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $40,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett
Search Results 0 to 8 of about 9 (some duplicates have been removed)